Blue Cross and Blue Shield of Nebraska 401(k) Review & Grade
Tax-Favored Savings Program
Omaha, NEFinance & Insurance1,198 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$7,683Employer $ per active participant
$7,686Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$207.8MNet plan assets, end of year
$137,739Average balance per account
Score breakdown
- Employer generosity43.4 / 5087th percentile for employer $ per participant
- Low cost19.2 / 2577th percentile for low admin cost vs. same-size plans
- Employee saving8.5 / 1557th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score81 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 87th |
| Lower admin cost | 77th |
| Employee saving | 57th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Blue Cross and Blue Shield of Nebraska put in about $7,683 per active participant, more than the typical peer ($3,606). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $9,208,464 |
| Participant (employee) contributions | $9,211,578 |
| Other contributions (incl. rollovers in) | $663,378 |
| Administrative expenses paid from the plan | $176,466 |
| Contract administrator fees | $23,988 |
| Investment advisory & management fees | $55,963 |
| Other admin expenses | $5,606 |
| Benefits paid out | $21,563,694 |
| Net assets, start / end of year | $190.6M / $207.8M |
| Active participants, start / end of year | 1,169 / 1,228 |
| Participants with account balances | 1,509 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Lutz |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company | $98,397 reported compensation |
| NFP Retirement Inc | $50,000 reported compensation |
| Lutz & Company PC | $16,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008125228NAL0003016483001, received 2025-10-08, EIN 47-0095156, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.